Shenhua says first half profit up 14%

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Aug 2009

China Shenhua Energy Co, the country's biggest coal producer, says its first-half net profit rose 14 per cent from a year earlier as its output and sales surged despite the fallout from the global economic crisis. The Beijing-based company said its net profit in January-June was 16.9 billion yuan ($A2.98 billion), compared with 14.8 billion yuan a year earlier.
The company's commercial coal output rose 17.6 per cent over a year earlier and sales climbed 7 per cent.
Revenue jumped 16 per cent to 57.1 billion yuan ($A10.02 billion), up from 49.8 billion yuan in the first half of 2008.
Shenhua, which has operations spanning mining, shipping and power generation, benefited from a jump in government spending earlier this year aimed at reviving slowing growth.

Source: Associated Press